Newsletter
Fast Cash and Payday Loans
Abstract: Payday loans are convenient and provide FAST cash to cover emergency situations or help pay a borrower?s expenses from one paycheck to the next. But the fee-based structure of payday lending is quite different from a traditional loan, and laws vary among the states. The April 2019 edition of Page One Economics: Focus on Finance takes a look at the structure and fees that make these loans costly.
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https://files.stlouisfed.org/files/htdocs/publications/page1-econ/2019/04/10/fast-cash-and-payday-loans_SE.pdf
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https://research.stlouisfed.org/publications/page1-econ/2019/04/10/fast-cash-and-payday-loans
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Provider: Federal Reserve Bank of St. Louis
Part of Series: Page One Economics Newsletter
Publication Date: 2019-04
Pages: 1-7